Jenoptik (JEN) Q4 2024 TU earnings summary

Executive summary

• Achieved record revenue and earnings in 2024, with revenue up 5% to approximately 1.12 billion euros year-over-year.

• EBITDA increased by 6% to around 222 million euros, with margin improving to 19.9%.

• All divisions contributed to growth, led by Advanced Photonic Solutions, especially in semiconductor equipment.

• Net debt further reduced, and production capacity expansion executed as planned.

Financial highlights

• Revenue: 1.12 billion euros (up from 1.07 billion euros year-over-year).

• EBITDA: 222 million euros (up from 209.6 million euros year-over-year).

• EBITDA margin: 19.9% (up from 19.7% year-over-year).

• Free cash flow before interest and taxes: 103 million euros (down from 127.3 million euros year-over-year, prior year benefited from real estate sales).

• Equity ratio improved to 56% (from 54.2% at end of 2023).

Outlook and guidance

• High economic and political uncertainty expected to persist into H1 2025.

• Anticipates upturn in semiconductor equipment demand in H2 2025.

• Quantitative guidance for 2025 to be provided with final 2024 results in March 2025; 2026 targets unchanged.